A car is one of the best assets you can have. Every car owner knows it’s a good investment, but one that depreciates in value quickly. Car specialists say a vehicle’s value can even drop by 20% once it leaves the car dealer. This rapid lowering in value can be detrimental if you want a car pawn loan Norfolk Ontario. Here are some ideas on how to limit depreciation and enjoy your car longer.
How to Minimize Car Depreciation
- Choose a good model. You can never go wrong with a good design, high-quality build, and well-thought-out features. The Ford F-150 and the Jeep Wrangler are good examples. These models have been around for years and are still popular. Its design is such a classic that the model depreciates less than a third of its value even after five years.
- Take care of your car. This will inspire confidence in prospective buyers and auto finance companies. Showing a full-service history will prove that the vehicle is in good condition and can still be used for an extended period. It also means a high resale value.
- Don’t go crazy with modifications. Wanting your car to be unique might sound good now, but you might have problems later on. Very few people want a pineapple yellow car. They also don’t want modifications that make the car look like it’s ready for drag racing.
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